Digital Coin Jar helps to save an average of EUR 125 per year

More than 80,000 clients of SEB, who are saving cents into the Digital Coin Jar from their card payments, have managed to save an average of EUR 125 per year.

“The Digital Coin Jar is more popular among women, who comprise 58% of the users. The biggest fans are young people aged 25–30, as for many of them the electronic coin jar has helped them to take the first steps towards accumulating their own savings. Saving cents while making card payments is an easy way to save a significant sum of money for the future, in order to use it later for a bigger purchase, travelling or home renovations,” says Tõnu Sepp, Director of the SEB Retail Banking Division.

SEB is offering an innovative savings product, the Digital Coin Jar, which allows you to set aside virtual cents generated by card payments, similarly to a conventional piggy bank. At the end of each day, the bank system rounds up the debit card payments to the next full euro and transfers the difference between the rounded and paid sum by next morning from the customer’s current account to their savings deposit

For instance, if you pay EUR 6.40 with a card within a day, 60 cents (7.00-6.40=0.60) will be transferred into your savings deposit by the following morning. If multiple payments are made within a day, rounding is done for each payment separately. The total amount is transferred into the savings deposit in one lump sum. If an amount paid with a card is an even amount as it is (for example, EUR 2), there is no rounding up, and no money from the transaction is transferred into the Digital Coin Jar.

SEB customers can activate their Digital Coin Jar via the Internet Bank or at a branch. A contract for the Digital Coin Jar is for an indefinite term, and opening and using the service is free of charge.

For more information:

Maarja Gavronski
Project Manager for Communication
Marketing and Communications Division
SEB Pank

Phone +372 665 5270
Mobile +372 5656 5785
Address Tornimäe 2, 15010 Tallinn
E-mail maarja.gavronski@seb.ee
www.seb.ee

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